BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↓ 39.80% for Week of September 12 2024

Market Wrap:

• Stocks rose Friday, with S&P, Nasdaq having their best week of 2024.

• S&P +0.54%, Nasdaq +0.65%, Dow +297 points (+0.72%).

• Utilities, communication services, and industrials led.

• Megacap tech and semis rallied: Super Micro +3.4%, Arm +5.9%, Alphabet +1.8%, Uber +6%.

• Fed expected to cut rates by 25 bps this week.

• August CPI: +2.5%, lowest since Feb 2021.

EARNINGS

Here’s what we’re watching this week:

• Wednesday: 

  • General Mills (GIS) - earnings of $1.05 per share (-3.7% YoY) on $4.8B revenue (-2% YoY)

• Thursday: Cracker Barrel (CBRL), Darden Restaurants (DRI)

  • FedEx (FDX) - earnings of $4.85 per share (+6.6% YoY) on $22B revenue (+3.8% YoY)

  • Lennar (LEN) - earnings of $3.63 per share (-6.2% YoY) on $9.2B revenue (+8.4% YoY)

Full earnings calendar here.

HEADLINES

Fed Ready to Unshackle US Economy With Soft Landing at Stake

S&P is Surviving Big Tech’s Slide as ‘Other 493’ Catch Up

• Gunfire at Trump Golf Club latest jolt in 2024 campaign (more)

• Currencies listless as markets waffle over Fed rate cut (more)

• Gold hits another all-time high, mega merger boosts metal's outlook (more)

• Oil prices inch up on Fed rate cut outlook (more)

• Biden finalizes increases to some of Trump’s China tariffs (more)

• China’s deepening slowdown tests Xi’s tolerance for growth miss (more)

• The big winners from PE’s boom are becoming clear (more)

• Nippon Steel bid for U.S. Steel faces Sept. 23 review deadline (more)

• Boeing strike adds cash crunch to new CEO’s rescue mission (more)

• Biden’s top trustbuster faces a battle to survive, even under Harris (more)

• Wells Fargo in trouble with regulators again (more)

• Disney and DirecTV reach carriage deal, restoring ABC, ESPN (more)

• Icahn Enterprises wins dismissal of investor lawsuit (more)

A Message from Traders Agency

Bill Gates: “This Type of AI Will Be Worth Ten Microsofts”

Microsoft just boosted its investment in OpenAI by as much as $10 billion.

Here’s the “backdoor” way that you can join them as an AI investor in this red-hot space.

- sponsored message -

DEALFLOW

M+A | Investments

• France's Rexel rebuffs $9.4B offer from Brad Jacobs-led QXO (more)

• Alcoa to sell its 25.1% stake in Ma’aden joint venture for $1.1B (more)

• Mathias Döpfner, KKR said to near deal on Axel Springer split (more)

• Bausch + Lomb working with Goldman Sachs to explore sale (more)

• Canada's ABC Technologies proposes revised buyout of UK's TI Fluid (more)

• Satellite-TV providers DirecTV and Dish are in talks to merge again (more)

• SoftwareOne weighs deal for Crayon as Apax closes in (more)

• HSBC in talks to sell South African unit to FirstRand (more)

• Sony in talks to buy Pink Floyd music rights for about $500M (more)

• UCL Swift, high-precision fiber optic termination products and connectivity solutions, acquired Accurate Connections, a manufacturer of custom fiber optic and copper cable assemblies (more)

• ConnetctWise, a software company dedicated to the success of managed service providers, acquired Axcient, data protection and disaster recovery solutions, and SkyKick, a cloud management software company (more)

VC

• Second Front Systems, a public-benefit software company, closed a $70M Series C funding round (more)

• Habitat Health, an integrated health care payer and provider, raised more than $50M in funding (more)

• XP Health, a company providing a digital-first vision care platform, raised $33.2M in Series B funding (more)

• Nirvana, a health tech company, raised $24.2M in Series A funding (more)

• Every, a company enabling tech founders to set up an entire back office in one place, raised $22.5M in Series A funding (more)

• Bounti, a company specializing in autonomous AI products for sales, raised $16M in funding (more)

• Metabase Q, an IT cybersecurity management company, raised $11M in Series A extension funding (more)

CRYPTO

• Bitcoin eyes $60K and likely has more room to rally (more)

• Guarding crypto is a lucrative business and Wall Street wants in (more)

• MicroStrategy’s latest $1.1 bln Bitcoin purchase is largest since 2021 (more)

BULLISH BITES

🚨 Breaking: Big ticket investors are rushing into this “AI wonder stock” Check out how to join them right here. *

🎲 All In: JD Vance sells himself to Silicon Valley.

🇨🇳 Dried Up: The number of new startups founded in China has fallen off a cliff - “the whole industry has just died before our eyes.”

🤖 First impressions: Techcrunch tests OpenAI o1, the AI designed to overthink it.

🎮 Guilty Pleasure: The LinkedIn games are fun, actually.

DAILY SHARE

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